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government must step in to ensure the state and local government. the problem detroit faced is that -- >> state, local, and tribal government. >> and tribal government. [laughter] >> okay. >> the problem with detroit, unlike many municipalities that depend on revenue from real estate tax, they run on income taxes. they never recovered from 2001. the black unemployment rate never recovered from 2001. that downturn decimated the revenue stream for the city, and it never came back. if there are banks that are too big to fail, and we have to step in to make sure they function, there are cities that are too big to fail. [applause] >> bankruptcy in one of those cities. >> yes, and so it is not enough for the administration to say, oh, we're behind you, droit. no. we said to wall street, $800 billion we're behind you, so that's being behind me. [laughter] >> okay. behind you, what are the policies? >> so, wall street caused more damage than what we have put into the budget. there needs to be a financial transaction tax because when they gamble, we lose. [applause] they have to pay
million of our residents are on food stamps today. one in three households in detroit, according to the associated press, four out of five u.s. adults struggle with joblessness, near porveghts or reliance on welfare. there's no shortage of labor in the united states. there is a shortage of jobs in the united states. our goal must be to help our struggling americans move from dependency to independence, to help them find steady jobs and rising pay, not declining pay. our policy cannot be to simply relegate more and more of our citizens to dependence on the government while importing a steady stream of foreign workers to take the available jobs. that is not in the interest of our country or the people of this country. some contend our unemployed don't have the needed skills. well, let's train them. we now spend over $750 billion a year on means-tested welfare assistance-type programs. that's the largest item in the budget, bigger than social security, bigger than defense, bigger than medicare. and of that amount, we spend about -- for every $100 we spend on those programs, we only
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